" class="no-js "lang="en-US"> Dutch central bank grants ibanXS PSD2 license - Fintech Finance
Friday, March 29, 2024

Dutch central bank grants ibanXS PSD2 license

The Dutch Central Bank (DNB) has granted ibanXS, the first pan-European PSD2 Open Banking platform in the Netherlands, a PSD2 license.
Thus making ibanXS a licensed Account Information- and Payment Initiation Service Provider.

ibanXS is the fully operational pan-European PSD2 Open Banking platform with connections to more than 1.500 European banks in 22 countries. Via the ibanXS platform, licensed and now also non-licensed, companies can offer their clients access to their bank account to retrieve bank data (AISP) and initiation of payments (PISP), via the unified ibanXS API.

What is PSD2?

PSD2 is the European Directive on consumer and business payments. With the introduction of PSD2, new providers of new payment and account information services will enter the market. They will act as an online third party between you and your bank. These third parties may be other banks, for example, or FinTech companies. Providers must have a PSD2 license.

Obtaining the PSD2 license

Alex Bewier, Bewier Risk & Management servicesArno Voerman, Dentons and Eppo Heemstra, CRFO ibanXS, were incremental for obtaining the ibanXS license. Their expertise and guidance helped ibanXS transform into a Payment Institution, complying with all the strict regulations and the entire application process.

Hans Vermeijs, CEO and co-founder of ibanXS: I am so very proud of the entire team. In very short time, we realized a mature platform, a vast reach of connected banks, and now the official PSD2 Open Banking license. With these three ingredients ibanXS is the ideal partner for every company that wants to offer his clients access to banks.
The strict supervision of the Dutch Central Bank guarantees all our clients and their clients the safety and security of their processes and data.

Edy Bruinooge, CCO and co-founder of ibanXS: Next to being “Technical Provider” for licensed companies, such as Online Payment Platform, ibanXS can provide services to non-licensed companies, with our “License-as-a-Service” model.
ibanXS operates in the collaborative space of PSD2/Open Banking. Very important for Payment Service Providers, who want to focus on their core-activity, instead of applying for an additional, expensive license and for Accounting software companies, who don’t want to rely to a competitor, with a license and a couple of bank-connections, for their muchneeded access to all the local and European banks.

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